UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events.
On October 26, 2023, Polaris Inc.’s (the “Company”) Board of Directors authorized the repurchase of up to $1.0 billion of shares of the Company’s common stock (in addition to the approximately $204 million that remains outstanding under the current share repurchase plan), effective immediately. The timing and exact amount of any common stock repurchases will depend on various factors, including business and market conditions, opportunities for growth and the Company’s capital position. The Company’s new share repurchase program does not include specific price targets, may be executed through open market transactions or privately negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, and may be suspended at any time.
This Current Report on Form 8-K contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other things, the Company’s planned share repurchase program. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the following: (1) the Company’s ability to make share repurchases; (2) business and market conditions; (3) the possibility that the share repurchase program may be suspended or discontinued; and (4) other factors identified under “Risk Factors” in Part I, Item 1A of the Company’ Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and updated in the Company’s subsequent reports filed with the SEC. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them in light of new information or future events.
The text of the Company’s press release announcing the new $1.0 billion share repurchase program is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
Exhibit | |
| 99.1 | Press Release dated October 26, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: October 26, 2023
| POLARIS INC. | |
| /s/ Robert P. Mack | |
| Robert P. Mack | |
| Chief Financial Officer |